PENGARUH FAKTOR DEMOGRAFI, RISK TOLERANCE DAN OVERCONFIDENCE TERHADAP PENGAMBILAN KEPUTUSAN INVESTASI MAHASISWA DI KOTA PEKALONGAN
DOI:
Abstract Views:
1080 times
PDF Downloads:
1658 times
Abstract
The purpose of this study was to obtain empirical evidence about the influence of demographic factors, risk tolerance and overconfidence on investment decision making with the object of research being students in Pekalongan City. This study uses quantitative data by taking a sample of 100 student respondents using purposive sampling technique. The distribution of questionnaires was chosen as the data collection method in this study. Multiple linear regression analysis, classical assumption test and hypothesis testing using SPSS 25 program were used as analytical tools in this study. The results of this study indicate that demographic factors, namely age, gender and monthly income have a positive but not significant effect on investment decision making, risk tolerance has a significant positive effect on investment decisions. On the other hand, overconfidence has a positive but not significant effect on investment decision making.
Downloads
References
Afriani, D., & Halmawati. 2019. Pengaruh cognitive dissonance bias , overconfidence bias dan herding bias terhadap pengambilan keputusan investasi. Jurnal Eksplorasi Akuntansi, 1(4), 1650–1665.
Almawadi, I. (2019). Simplifikasi Belum Full Digital, Jumlah Investor Pasar Modal Tembus 1,7 Juta. News - Market. https://www.bareksa.com/id/text/2019/02/18/simplifikasi-belum-full-digital-jumlah-investor-pasar-modal-tembus-17-juta/21634/news
Alquraan, T., Alqisie, A., & Shorafa, amjad al. (2016). Do Behavioral Finance Factors Influence Stock Investment Decisions of Individual Investors ? ( Evidences from Saudi Stock Market). American International Journal of Contemporary Research, 6(3), 159–169.
Asfira, N., Rokhmawati, A., & Fathoni, ahmad fauzan. (2019). Jurnal Ekonomi Pengaruh Financial Literacy dan Investment Experience terhadap Risk Tolerance dan Investment Decision. Jurnal Ekonomi Fakultas Ekonomi Dan Bisnis Universitas Riau, 27(4), 340–352.
Asri, D. M. (2015). Keuangan Keperilakuan (Edisi Pertama).
Barlian, P. D. E. (2016). Metodolodi Penelitian Kualitatif dan Kuantitatif.
Baruah, M., & Parikh, A. K. (2018). Impact of Risk Tolerance and Demographic Factors on Financial Investment Decision. International Journal of Financial Management, 8(1).
Budiarto, A., & Susanti. (2017). Pengaruh financial literacy, overconfidence, regret aversion bias, dan risk tolerance terhadap keputusan investasi (Studi pada investor PT. Sucorinvest Central Gani Galeri Investasi BEI Universitas Negeri Surabaya). Jurnal Ilmu Manajemen (JIM), 5(2), 1–9.
Data perguruan tinggi (2017-2019). Statistik Perguruan Tinggi. Diakses dari website Dikti:https://forlap.ristekdikti.go.id
Faidah, F., Rini, filang puspita, & Asri, vikha indri. (2020). Analisis keputusan investasi pelaku umkm di kudus. Ekonomi Bisnis, 21(1), 1–11.
Firah, A. (2017). Pengaruh Faktor Demografi Terhadap Kompetensi Dan Overconfidence Investor Serta Keputusan Investasi Investor Saham Di Kota Medan.
Fitria, Y., Rahadi, R. A., Afgani, K. F., Putranto, N. A. R., Murtaqi, I., Faturohman, T., & Framework, A. C. (2019). The Influence of Demographic , Financial Literacy and Information Factors on Investment Decision Among Millenial Generations in Bandung. EJBMR, European Journal of Business and Management Research, 4(6), 1–7.
Ghozali, I. (2018). Aplikasi Analisis Multivariate Dengan Program IBM SPSS 25 (Edisi 9). Badan Penerbit UNDIP.
Hikmah, H., Siagian, M., & Siregar, P. (2020). Analisis Tingkat Literasi Keuangan, Experienced Regret, dan Risk Tolerance pada Keputusan Investasi di Batam. Jesya (Jurnal Ekonomi & Ekonomi Syariah), 3(1), 138–146.
Jemutai, B. L., Josephat, C., & Catherine, M. (2020). Overconfidence bias, Financial Literacy and Investment Decisions; moderation approach; a reflection from Small and Micro Enterprises in Nairobi County, Kenya. African Journal of Education, Science and Technology, 6(1), 221–232.
Kartini, K., & Nugraha, N. F. (2015). Pengaruh Illusions of Control, Overconfidence dan Emotion Terhadap Pengambilan Keputusan Investasi Pada Investor Di Yogyakarta. AJIE, 4(2), 114–122.
KSEI (2019). 22 Tahun KSEI: Mendukung Pengembangan Infrastruktur Untuk Kenyamanan Investasi di Pasar Modal. Diakses dari website PT. KSEI: www.ksei.co.id
Lachhwani, H. (2016). Illuminating the Influence of Demographic Variables on Investment Biases. International Journal of Advance Research in Management, Engineering and Technology, 1(1), 54–60.
Mahardika, vanny ayus. (2017). Pengaruh overconfidence, risk tolerance dan faktor demografi terhadap pengambilan keputusan investasi masyarakat Gresik.
Muklis, F. (2016). Perkembangan Dan Tantangan Pasar Modal Indonesia. Al Masraf (Jurnal Lembaga Keuangan Dan Perbankan), 1(1), 1–12.
Munawar, A., Suryana, & Nugraha. (2020). Pengaruh Literasi Keuangan dan Faktor Demografi terhadap Pengambilan Keputusan Berinvestasi ( Survei Pada Mahasiswa STIE Wikara ). 14(2), 253–268.
Nguyen, L. T., Gerry, G., & Newton, C. (2016). Pengaruh Risiko Keuangan Toleransi dalam Pengambilan Keputusan Investasi dalam Konteks Nasihat Keuangan. 10(3), 3–22.
Nguyen, D. Van, Dang, D. Q., Pham, G. H., & Do, D. K. (2020). Pengaruh Overconfidence dan Arus Kas terhadap Investasi di Vietnam. Journal of Asian Finance, Economics and Business, 7(2), 99–106.
Nur Aini, N. S., & Lutfi, L. (2018). The influence of risk perception, risk tolerance, overconfidence, and loss aversion towards investment decision making. Journal of Economics, Business & Accountancy Ventura, 21(3), 401–413.
Parveen, S., & Siddiqui, muhammad ayub. (2018). Menambatkan Heuristik, Efek Disposisi, dan Bias Overconfidence di Investor: Kasus Bursa Efek Pakistan. Abasyn Journal of Social Sciences, 11(2), 280–294.
Pertiwi, mega mutiara. (2018). Pengaruh Financial Literacy Dan Faktor Demografi Terhadap Keputsan Investasi Mahasiswa.
Pradikasari, E., & Isbanah, Y. (2018). Pengaruh Financial Literacy, Illusion of Control, Overconfidence, Risk Tolerance, dan Risk Perception Terhadap Keputusan Investasi Pada Mahasiswa di Kota Surabaya. Jurnal Ilmu Manajemen (JIM), 6(4), 424–434.
Putri, W. W., & Hamidi, M. (2019). Pengaruh literasi keuangan, efikasi keuangan, dan faktor demografi terhadap pengambilan keputusan investasi (studi kasus pda mahasiswa magister manajemen fakultas ekonomi Universitas Andalas Padang). Jurnal Ilmiah Mahasiswa Ekonomi Manajemen, 4(1), 398–412.Radjab, D. E., & Jam’an, D. A. (2017). Metodologi Penelitian Bisnis. Lembaga Perpustakaan dan Penerbitan Universitas Muhammadiyah Makassar.
Rakhmatulloh, A. D., & Asandimitra, N. (2019). Pengaruh Overconfidence, Accounting Information, dan Behavioural Motivation Terhadap Keputusan Investasi di Kota Surabaya. Jurnal Ilmu Manajemen (JIM), 7(3), 796–806.
Riadi (2016). Pengertian, Tujuan dan Jenis-jenis Investasi. Diakses dari website Kajian Pustaka:https://www.kajianpustaka.com/2016/10/pengertian-tujuan-dan-jenis-jenis-investasi.
Salerindra, B. (2020). Determinan keputusan investasi mahasiswa pada galeri investasi perguruan tinggi di surabaya dan malang. Jurnal Ilmu Manajemen, 8(1), 157–173.
Septi, N., Ainia, N., & Lutfi, L. (2020). The influence of risk perception , risk tolerance , overconfidence , and loss aversion towards investment decision making. December 2018.
Sharma, R. (2020). Impact of financial literacy and Risk Tolerance on Investment Decision. International Journal of Management and Humanities (IJMH), 4(11), 53–56. Sugiyono, P. D. (2010). Metode Penelitian Pendidikan Pendekatan Kuantitatif, Kualitatif dan R&D. Alfabeta, CV.
Tanusdjaja, H. (2018). Keputusan Investasi Investor Individu Berdasarkan Kompetensi, Overconfidence, Dan Pendidikan. Jurnal Muara Ilmu Ekonomi Dan Bisnis, 2(1), 234–244.
Violeta, J., & Linawati, N. (2019). Pengaruh anger traits, anxiety traits, dan faktor demografi terhadap keputusan investasi. Jurnal Manajemen Pemasaran, 13(2), 89–95.
Wardani, A. K., & Lutfi, L. (2016). Pengaruh literasi keuangan, experienced regret, risk tolerance, dan motivasi pada keputusan investasi keluarga dalam perspektif masyarakat Bali. Journal of Business & Banking, 6(2), 195–214.
Wareza, M. (2019). Hari Terakhir Bursa 2019, Investor Pasar Modal Capai 2,4 Juta. CNBC Indonesia. https://www.cnbcindonesia.com/market/20191230142312-17-126472/hari-terakhir-bursa-2019-investor-pasar-modal-capai-24-juta
This work is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License.
Ciptaan disebarluaskan di bawah Lisensi Creative Commons Atribusi-NonKomersial-BerbagiSerupa 4.0 Internasional.
-
Articles published in Jurnal Bisnis Terapan are licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International (CC BY-NC-SA 4.0) license, which permits anyone to copy, transform, or redistribute articles for any lawful purpose in any medium, provided appropriate credit is given to the original author(s) and Jurnal Bisnis Terapan is recognized as its original publisher. A link to this license should also be provided. Any derivative work of an article published in Jurnal Bisnis Terapan must also be shared under the same (or compatible) license.
-
Both copyright and publishing rights on articles are retained by the respective author(s), without restrictions. Only a non-exclusive license is granted to Jurnal Bisnis Terapan to publish the article and identify itself as its original publisher.
